News & Insights

CGS3 Partner Joe von Meier Moderator at Bisnow Multifamily Housing Summit

Despite ongoing challenges — fluctuating construction costs, entitlement hurdles, regulatory roadblocks, NIMBY resistance, and financing pressures — a sense of optimism prevailed at Bisnow’s San Diego Multifamily and Affordable Housing Summit, held August 6, 2025, at the Westin San Diego Gaslamp Quarter.

The half-day event explored the future of San Diego’s multifamily housing market, covering local policy, leasing trends, and the pressing issue of affordability.  Three panels brought together top owners, developers, architects, and decision-makers shaping the region’s booming multifamily sector.

Joe von Meier, partner at Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3), opened the summit by moderating the first panel: “Navigating Multifamily Development Throughout San Diego: Entitlement Hurdles, Construction Costs, Financing New Builds and Getting a Project Off the Ground.”  He was joined by leading industry voices including Chris Montes (Logos Development), David Allen (Trestle Build), David McCullough (McCullough Landscape Architecture), and Chase Ronge (MVE + Partners).

Von Meier noted that San Diego’s multifamily market has remained strong and stable through the first half of 2025, with vacancy rates projected at 4.5% — outperforming the national average of 6%.  The challenge, however, remains affordability: many renters are still spending close to 40% of their income on housing — well above affordability thresholds, leaving little room to stretch further.  The central question: what can industry leaders and policymakers do to make new multifamily development more affordable?

Key Takeaways from the Summit:

• San Diego is viewed as a national model for entitlement and plan review. Developers also cited a more streamlined local process under complete communities compared to other California cities, though greater policy consistency is still needed.
• Faith-based partnerships are emerging as a trend in developing affordable housing, with mid-rise multifamily projects underway in neighborhoods such as North Park and Hillcrest.
• Office-to-residential conversions remain limited, while weak condo demand and lagging retail/infrastructure growth present both challenges and opportunities for future multifamily expansion.
• Core urban demand is strong, with vigorous multifamily development and sustained appetite for new product.
• Modular construction is gaining momentum. Though currently about 5% more expensive, costs are expected to fall in coming months, offering faster build times and long-term savings.
• Technology and automation—including AI—are expected to play a growing role in reducing costs and creating housing solutions.
• Financial pressures remain significant, as higher interest rates, escalating material costs, and labor shortages challenge developers to find innovative, efficient strategies to keep projects on track.

Additional panels, “Affordable Housing Under Pressure” and “Winning the San Diego Renter,” addressed topics such as rent control, tenant protections, shifting renter expectations, affordable amenity strategies, public-private partnerships, inclusionary housing policies, and the next generation of multifamily leadership.

Von Meier, who specializes in complex residential development transactions—including student housing, multifamily, luxury residential, and retail projects—is focused on the future of housing throughout San Diego and beyond.

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

CGS3 is a recognized leader among a new generation of commercial real estate law firms with practice areas covering the entire commercial real estate life cycle, including finance, acquisition/disposition, entity formation, tax, construction, development, land use, leasing, distressed asset workouts and dispute resolution.  Earning a reputation as one of California’s leading commercial real estate law firms, CGS3 continues to recruit some of the state’s top real estate attorneys from both large corporate firms and senior in-house positions.  For more information, visit http://www.cgs3.com.